Renovations are underway on the former Enbridge Tower with reservations not far behind as the 23-storey building begins development into a downtown hotel.

The office building on the corner of Jasper Avenue and 102 Street, known for its peaked roof, was purchased by Edmonton-based Lighthouse Hospitality Inc. at the end of April.

The redesign is expected to cost around $65 million to $70 million and take 18 months to complete, Lighthouse president Paul Aulakh said in an interview Friday morning.

His proposed plan includes two separate hotel branches, with about 300 rooms, run under one chain. One hotel will offer the traditional short-term stay and the other will be geared toward extended stays, something Aulakh said is lacking in the downtown core.

“We think there has been a need for that,” he said. “We should be able to announce in the next week to couple of weeks which brand we are going with.”

Several prominent hotel brands have been in discussion with the developer, including Hyatt, Marriott and Delta.

The outside structure will mostly remain intact, Aulakh said, but with plans to open up the main floor front to Jasper Avenue and 102 Street with glass windows. As for the iconic peak, it will remain in place with plans to project LED lighting.

“It stands out as it is, but it’s really going to stand out once we’re done,” he added.

A preliminary design of the new hotel development underway in the former Enbridge Tower. The 23-storey building was purchased by Lighthouse Hospitality Management Inc. at the end of April.Supplied

For the first couple of floors, Aulakh said the idea is to include restaurants, a spa, gym, and all the amenities traditionally found in a hotel.

They are also in talks with a brewery and other food concepts, he said.

A three-level underground parkade will remain, which Aulakh said is a treasure to have in the downtown core.

Above the extended-stay hotel rooms, Aulakh said the top few floors will have apartments for rent geared toward people who like the downtown spot and are interested in having these extra amenities attached to the hotel.

Lighthouse Hospitality currently has one other property in Edmonton, having opened Hyatt Place-Edmonton West in 2017.

Enbridge Tower has been sitting empty since 2016 when the company consolidated its offices into two buildings.